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KiwiSaver is a voluntary, work-based savings initiative to help you with your long-term saving for retirement. It's designed to be hassle-free so it's easy to maintain a regular savings pattern. There are a range of membership benefits to encourage you to get saving.

the member tax credit, oremployer contributions.Normal fees charged by KiwiSaver providers will apply.

Making contributions if you're under 18If you're not working:You don't have to make KiwiSaver contributions, unless required by your KiwiSaver provider. You or your parents can choose to make voluntary contributions at any time.

If you start working:You'll have to start contributing 3%, 4% or 8% of your pay like any other KiwiSaver member.

Twelve months after you start contributing you'll be able to take a contributions holiday of between 3 months and 5 years. This means you won't have to have deductions taken from your pay by your employer.

If you're under 16 years old, all your legal guardians will need to give their consent. You can't enrol yourself.

If you're aged 16 to 17 one of your legal guardians must co-sign your application form with you in order to enrol in KiwiSaver. If you don't have a legal guardian, you may enrol yourself directly with a scheme provider.

Find out more about how to join

Once you enrol you can't opt out unless you were incorrectly enrolled before you turned 18. You may be able to opt out before you turn 19.

When you're not a memberAutomatic enrolmentIf you're not already a KiwiSaver member and are eligible to join, in most cases you'll be automatically enrolled when you start your new job. You'll be provisionally allocated to your employer's chosen scheme if they have one, otherwise to one of the 5 default KiwiSaver schemes.

You can choose to opt out between the end of the second and eighth week of starting your new job by telling your employer or Inland Revenue.

If you choose to stay in KiwiSaver, you don't have to do anything else if you don't want to. Your contributions will automatically start from your first pay at 3% (unless you have chosen to contribute at 4% or 8%) of your before-tax pay. Your employer will contribute 3%.

You have 3 months from the date of your first contribution to select your own KiwiSaver scheme to invest your funds with. During this time Inland Revenue will hold on to your contributions and pay interest on them. If you don't select your own scheme you'll stay with the one you were provisionally allocated to.

Choosing to joinNot everyone is eligible for automatic enrolment. If you're not automatically enrolled when you start a new job, you may still be able to join KiwiSaver by getting in touch with a KiwiSaver provider.

If you join KiwiSaver and then go overseas for an extended period of time, you can remain a KiwiSaver member, but won't receive all the benefits.

Your contributions while you're awayWhen you stop working in New Zealand your contributions will automatically stop. You may need to contact your KiwiSaver provider.

You can make voluntary contributions at any time.

Your benefits while you're awayYou won't receive the member tax credit while you're not living in New Zealand unless you're a:

New Zealand government employee living overseas, orNew Zealander volunteering or working overseas for token payment for a specified charitable organisation.As you won't be employed in New Zealand you won't receive compulsory employer contributions.

Permanently leaving New ZealandIf you permanently emigrate to countries other than Australia, after one year you can apply to withdraw your savings and close your KiwiSaver account. The member tax credit you've received since joining will be returned to the Government. You keep any interest earned on the tax credits.

If you permanently emigrate to Australia you can either leave your savings in a New Zealand KiwiSaver account or transfer to an Australian complying superannuation scheme.

If you decide to return to New ZealandYou can rejoin KiwiSaver if you're eligible.

While KiwiSaver is mainly about saving for your retirement, there are 2 benefits for KiwiSaver members who are saving for their first home.

Benefits for first home buyersThere are 2 benefits for KiwiSaver members who are about to purchase their first home:

If you've been a KiwiSaver member for at least 3 years, you may be able to withdraw some of your savings to put towards purchasing or building your first home. You can withdraw your contributions, your employer contributions, any returns on investments and the member tax credits, provided you leave a minimum balance of $1,000 in your account.You may also be eligible for a one-off grant from the Government to help you. Find out more by visiting the Housing New Zealand website.If you've owned a home beforeIf you've owned a home before, you may still be eligible for these benefits if you're in the same financial situation as a first home buyer. To find out more, visit the Housing New Zealand website or call them on 0508 935 266.

After you've bought your homeOnce you've made a withdrawal from your KiwiSaver account to purchase your first home, you'll remain a KiwiSaver member. You can:

keep making contributions as usual, ortake a contributions holiday if you need a break from contributing to KiwiSaver to focus on repaying your mortgage.You'll be able to withdraw the rest of your KiwiSaver money when you qualify for NZ Super (currently 65).

If you're self-employed you're not required to contribute a percentage of your pay. Instead, you agree your contribution level with your provider.

KiwiSaver is very flexible if you're self-employed. You're not required to contribute a set percentage of your pay. Instead you can agree your contribution level with your KiwiSaver provider. Some providers may have minimum contribution requirements. You can either:

make lump sum payments when you choose, orset up regular payments.Benefits for self-employed peopleIf you're self-employed you can enjoy all the benefits of KiwiSaver except the employer contributions. When you join, if you're eligible:

the Government will pay an annual member tax credit.you'll be able to take advantage of the first home buyer's benefits.Joining KiwiSaverYou'll need to join directly with a KiwiSaver provider of your choice by requesting an investment statement and completing an enrolment form.

If you're not employed, you agree your contribution level with your provider. Some schemes may have minimum contribution requirements.

KiwiSaver is very flexible if you're not employed. You're not required to contribute a set amount. Instead you can agree your contribution level with your KiwiSaver provider. Some providers may have minimum contribution requirements. You can either:

make lump sum payments when you choose, orset up regular payments.Benefits if you're not employedIf you're not employed you can enjoy all the benefits of KiwiSaver except the employer contributions. When you join:

the Government will match your contributions up to $10 a week (or $521.43 a year), andyou'll be able to take advantage of the first home buyer's benefits if you're eligible.Joining KiwiSaverYou'll need to join directly with a KiwiSaver provider of your choice by requesting an investment statement and completing an enrolment form.

If you're already saving for retirement you may wish to compare your existing savings scheme with KiwiSaver before deciding whether to join.

If your existing savings plan is a complying fund (see below) you'll find that its benefits and rules are already very similar to those of KiwiSaver.

If your employer makes contributions to your other scheme, this can affect the amount of compulsory employer contribution they are required to pay, so you may not be entitled to another employer contribution to your KiwiSaver scheme.

Ask your employer or existing superannuation provider for more information, and consider discussing your options with a financial advisor.

Complying fundA "complying fund" is a superannuation scheme that has membership criteria similar to KiwiSaver, such as your savings being locked in until the age of eligibility for NZ Super. You should ask your provider if you're unsure whether your scheme is a complying fund.

Members of a complying fund are entitled to receive the member tax credit.

If you belong to KiwiSaver and another superannuation scheme which is a complying fund, your member tax credit entitlement will be paid to the fund that applies first. Any remaining member tax credit entitlement will be paid to the other fund when they apply.

State Sector Retirement Savings SchemeIf you're a member of the State Sector Retirement Savings Scheme, you can find out more information about what KiwiSaver means for you.

You can choose which scheme to join, even if you're provisionally allocated to an employer-chosen scheme or a default scheme.

Definition of schemeA KiwiSaver scheme is where your savings are invested. All KiwiSaver schemes are registered with the Financial Markets Authority and offered and managed by KiwiSaver providers.

You can choose from a wide range of schemes offered by a number of providers.

You can change your KiwiSaver scheme provider at any time, but you can only belong to one KiwiSaver scheme at a time.

SchemesYou can choose from a wide range of schemes offered by a variety of organisations - from the big name banks, insurance companies and investment managers, through to specialist or boutique managers. Once you've joined KiwiSaver, your primary relationship will be with your KiwiSaver scheme provider. Here is a list of KiwiSaver scheme providers.

KiwiSaver is not guaranteed by the Government. This means you make your investment choices in a KiwiSaver scheme at your own risk.

However, all KiwiSaver schemes are regulated by the Financial Markets Authority in a similar way to other registered superannuation schemes. There are additional measures in place to make sure KiwiSaver schemes are competitive and members' best interests are looked after. For example:

all KiwiSaver schemes are required to have fees that are reasonabledefault providers have a special contract with Government that requires them to meet additional reporting requirements, anddefault providers' activities and their default investment funds are closely monitored.You can, at any time, choose to join the KiwiSaver scheme of your choice.

If you're automatically enrolled you'll be provisionally allocated to your employer's chosen scheme or to a default scheme. You can choose to stay in that scheme or change to a different one.

If you choose a KiwiSaver scheme provider yourself within the first 3 months of starting your new job, your contributions will go directly to your chosen scheme (not the one you were provisionally allocated to).

You can change schemes at any time.

Employer-chosen schemesYour employer can choose to have a preferred KiwiSaver scheme for employees who don't choose a scheme of their own. All new permanent employees must be eligible to be members of the scheme. If you're automatically enrolled in KiwiSaver you'll be provisionally allocated to your employer's chosen scheme.

What happens if you're no longer eligible?Some employer chosen schemes may have defined membership criteria, for example working in a certain profession. If you become ineligible to be a member of your employer's chosen KiwiSaver scheme, then:

your employer, or the provider, must notify both you and Inland Revenue in writing, andyou can join a different KiwiSaver scheme, orInland Revenue will provisionally allocate you to a default KiwiSaver scheme and give you 3 months to choose another scheme. If you don't choose another scheme within 3 months, Inland Revenue will confirm your enrolment in the default scheme.Default KiwiSaver providersIf you don't choose a scheme for yourself, and your employer doesn't have a chosen scheme, Inland Revenue will allocate you to one of the nine government-appointed default providers:

You can find out who your KiwiSaver scheme provider is by signing up to myIR Secure Online Services, or please call us.

The Sorted website has more information about funds, providers, investment types and fees.

Definition of providerA KiwiSaver provider is an organisation that offers a KiwiSaver scheme and is responsible for managing your savings in the scheme.

Once you've joined KiwiSaver, your primary relationship will be with your KiwiSaver scheme provider. You should contact your scheme provider if you have any questions about your KiwiSaver membership and account.

Most New Zealanders under the age of 65 can join KiwiSaver. Find out if you're eligible.

KiwiSaver membership is voluntary.

You can join KiwiSaver if you're:

a New Zealand citizen, or entitled to live in New Zealand indefinitely, andliving or normally living in New Zealand (with some exceptions), andbelow the age of eligibility for NZ Super (currently 65).You can't join KiwiSaver if you're:

holding a temporary, visitor, work or student permitliving overseas, unless you're a government employee:serving outside New Zealand, andemployed on New Zealand terms and conditions, andserving in a jurisdiction where offers of KiwiSaver scheme membership are lawful.If you're under the age of 18To join KiwiSaver you'll need to contact the scheme provider - you can't join through your employer.

If you're under 16 years old, all your legal guardians will need to give their consent. You can't enrol yourself.

If you're aged 16 to 17 one of your legal guardians must co-sign your application form with you. If you don't have a legal guardian you may enrol yourself directly with a scheme provider.

In most cases once you enrol you can't opt out. If you were incorrectly enrolled in KiwiSaver before you turned 18, you may be able to opt-out before you turn 19.

Find out more about opting out of KiwiSaver

If you're between 60 to 65 years oldIf you join when you're between 60 and 65, you won't be able to get your money out until you've been a KiwiSaver member for 5 years.

If you already have a retirement savings schemeYou can still join KiwiSaver even if you already save through another superannuation scheme

When you start a new job, if you're not already a member and are eligible, your employer will automatically enrol you in KiwiSaver.

You'll be automatically enrolled in KiwiSaver if you're aged from 18 to 64 years, start a new job with a new employer and your job is:

full-timepermanent part-timea temporary contract for more than 28 days, oras a casual agricultural worker for more than 3 months.Exceptions to automatic enrolmentYou won't be automatically enrolled if you:

are under 18 years oldare a casual agricultural workerare an election day workerare a private domestic worker and you pay your own PAYEare employed under a temporary contract for less than 28 days - however, if the contract is extended beyond 28 days you will be automatically enrolled on day 29are a casual employee who receives holiday pay with your wagesare on paid parental leave or ACCstay on the same payrollwhen a business is taken over or amalgamated, orif you relocate with the same employer eg transfer between branches, or if you are promotedonly receive schedular payments (formally withholding payments)aren't required to have PAYE deductions made from your salary and wagesrevert to an employer from whom you were seconded, straight after that secondmentare already employed as a teacher and transfer to another state or state integrated schoolare an employee of the New Zealand State Services working overseasare a shareholder employee and your income is not subject to PAYE.Inland Revenue takes up to 3 months after you've been automatically enrolled to send your contributions and your employer's contributions to your KiwiSaver provider. Find out what happens after you've been automatically enrolled.